Over the weekend I wrote about the draft released by Wikileaks on Wednesday concerning another, far larger Trade Deal known as the Trade in Services Agreement or, TISA, which would privatize Services while opening up 80% of the US Labor Market to Global Trade. Recently,The New York Times received a draft copy of the more well known TPP Free-Trade Agreement. With no surprise what-so-ever, I was horrified to learn of provisions regarding the Pharmaceutical industry.
In the New York Times piece, they describe how TPP would allow the Pharmaceutical Companies to challenge signatory's regulations and Government attempts to hold down the cost of drugs. Making such countries as New Zealand, that has strict rules regard prices for pharmaceuticals, susceptible to the contentious ISDS provision that has recently become the focal point of anger toward the President for it's ability to allow Companies to challenge a Free-Trade country's ability to regulate and bargain with Pharmaceutical Companies for lower prices. But that's not all it does.
The US will be susceptible to the same provision, opening the door to future secretive Lawsuits through an anonymous group of judges. So say good-bye to Medicare's ability to bargain with the Pharmaceutical Industry in order to access drugs at cheaper prices.
The same annex also prevents any nation from attempting to hold down pharmaceuticals in the future, effectively tying the hands of future Politicians from attempting to hold down future drug costs.
This is just the latest in a series of documents Wikileaks has released recently regarding draft copies of Trade deals currently under negotiations. Last Wednesday, Wikileaks released a draft of a third trade deal aside from the TPP and TTIP. The latest Free Trade deal, known as the 'Trade in Services Agreement' and would cover 2/3 of total World GDP.
This massive deal would Liberalize such sectors of the economy such as Air and Maritime Transport, Package delivery, e-commerce, Telecommunications, accountancy, engineering, consulting, Healthcare, Private Education, Financial Services and more.
Signed onto these deals include the United States, European Union, and 22 other countries including Canada, Mexico, Australia, Israel, South Korea, Japan, Norway, Switzerland, and others ranging across Asia and South America -Excluding the BRICS coalition of nations that include Brazil, Russia, India, China, and South Africa- presumably for strategic reasons.
There are few economist outside FOX News that think any of this is a good idea. The flight of manufacturing jobs from the US after NAFTA was signed was profound, it's affects still visible today. People see the empty, dilapidated factories, closed-down store fronts, and feel the pressure of low-wages and high unemployment. Many towns, once vibrant and alive with culture, are burnt-out. With entire neighborhoods that have become ghost-towns since the flight began.
If we are going to stop this fast-track authority or TPA (Which would give the President authority to negotiate these deals in secret while blocking Congress from making future changes to any provision they might not like, by forcing a simple up-down vote) Trade promotion authority would last for 6 years, giving the next president the same authority to push through even more Trade deals.
You and I and everyone we know must contact their district's Congress-member as the House gathers even now to discuss Fast-track. There are quite a few Progressive Democrats fighting against TPA, along side Libertarian-leaning Conservatives in the Republican Party as unlikely allies. But they are not enough in number to stop TPA.
Contact your Congresswoman or Congressman and say 'No' to TPP, TTIP, TiSA and tell them to say 'No' to Fast-Track Authority for President Obama. Just because he's for it, doesn't mean we have to except it. It's wrong for our country, it's wrong for emerging markets, it's wrong for the world. Say 'enough's enough' to Corporate greed.
To read my piece on the secretive Trade Deal known as TiSA, click Here.
6:44 AM PT: Immediately after I wrote this column, I contacted my district's Congress-member , Representative Chris Gibson (R)New York. I told his secretary that the residents of Delaware County are opposed to the President's request for TPA. After which he assured me that my Republican Congressman was strongly opposed to giving the President Trade-Promotion Authority, as he is also opposed to TPP, TTIP, and TiSA. Have You called Your Congress Representative?
Fri Jun 12, 2015 at 3:13 AM PT: Today, President Obama is pushing House Democrats to approve the Trade Promotion Authority. Only 21 of 188 Democrats in the House support TPA. President Obama plans on cornering Nancy Pelosi to try to force her support and to rally Democrats to his cause. It's up to us to fight back! Call your Representative today!!!